The Value Of Knowning Your Values...
Hi – Friend
By Buckley Carthage - The Writter
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I recently met the son of one of my childhood friends.
His name is Ron and he is 22.
As you might imagine, he is in the early stages of his working life.
We talked about many things and eventually, the talk turned to work and money.
Ron was shocked when I told him that he was lucky that he was beginning his working life in times that are less affluent than when I began mine.
You might also be shocked by such a statement, but I will explain.
My money madness
When I finished my 3rd level education, in 2000; Ireland was in the midst of the ‘Celtic Tiger’.
There was more money than anyone knew what to do with.
As a result, we started to develop some terrible beliefs about money.
We were encouraged to believe that not only could happiness be bought, but it had to be bought.
The price of just about everything shot up but we were told that this was great news as it was the sign of a strong economy.
For example, I bought a house in December 2003 and sold it for more than twice the price in early 2007.
We were encouraged to spend, spend, spend.
Despite all the money circulating, the levels of debt were insane.
I ended up with 3 maxed-out credit cards and approx. €30,000 of total debt.
Most of my friends were in similar situations, yet we were far from the most extravagant people around.
Learning the lesson
Thankfully, I managed to sort out my mess quickly and I have been much smarter with money ever since.
Earlier this year, I climbed back on the property ladder again but this time I am in a more comfortable situation.
In addition to having paid a much bigger deposit on my home, I have enough savings put by to cover my mortgage for 2 years.
I only earn a small amount more than I did in those mad days, but the difference is I let my spending be guided by my values.
I know what I value and what is important to me because I have taken the time to learn what I value.
Then, I only spend money on things that are important to me.
For example, I don’t need to drive at present so, I don’t have a car and I only bought a house as big as I needed.
I have made many decisions like this and the amount of money they save is beyond calculation.
But they do not just save money; they save stress and hardship.
If you do not buy what you don’t need, you don’t have the pressure of having to pay for it.
The Key point
As I explained to Ron when you have lots of money flowing about, you think that you can buy everything so, you don’t spend anytime discerning what you do and don’t need.
This leads to materialism, the accumulation of unnecessary possessions, and the accumulation of unnecessary debts.
With these comes stress and hardship.
There is nothing wrong with accumulating some wealth but is better if it is done while acquiring some sound principles in the process.
Because Ron is starting at a time when money is a little tighter, he has the opportunity to do just that.
Have a fantastic day,
Carthage
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